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The NBA's board of governors greenlights exploration for expansion teams in Las Vegas and Seattle. All 30 owners back the move, aiming for bids in the $7-10 billion range per franchise. The league targets the 2028-29 season for the debut of these new teams. NBA commissioner Adam Silver emphasizes the board's commitment to these markets, known for their strong basketball support. PJT Partners is appointed as a strategic adviser to assess potential ownership and infrastructure. A decision on executing franchise purchases could come as early as 2026, with a final vote planned later this year. The NBA seeks to expand to 32 teams, following the recent success of NHL teams in these cities. Seattle has been without an NBA team since 2008, while Las Vegas has hosted the WNBA's Aces since 2018. Franchise valuations soar, with the Los Angeles Lakers recently selling for a record $10 billion.
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